Thunder, Cason Wallace reportedly beat deadline, agree to 5-year, $139M contract extension

Cason Wallace and the Oklahoma City Thunder have agreed to a five-year, $139 million extension to his rookie contract, ESPN's Shams Charania reports .

The two sides beat Monday's deadline for players from the 2023 NBA Draft class to sign rookie scale extensions. Had they not reached a deal before the deadline, Wallace would have played the final year of his rookie contract on a team option, then entered the 2026-27 offseason as a restricted free agent.

With the deal, the Thunder secure a defensive anchor of their core as they seek to win a second NBA championship in three seasons. Wallace, a shooting guard, has developed into one of the best perimeter defenders in the NBA.

The Thunder selected Wallace with the No. 10 overall draft pick in 2023 out of Kentucky. He's expanded his role with the franchise in each of his three NBA seasons.

After starting 13 games as a rookie, Wallace started 43 in 2024-25 and was a key rotation player on Oklahoma City's championship team. He started 58 games last season and is now projected as a full-time starter this upcoming season, when he should expand on his 26.6 minutes per game from 2025-26.

In 77 games last season, Wallace averaged 8.6 points, 3.1 rebounds, 2.6 assists, 1.9 steals and 0.4 blocks while shooting 35.1% on 3.7 3-point attempts per game.

The Thunder traded 3-and-D specialist Luguentz Dort to the Atlanta Hawks in the offseason, signaling their expectation that Wallace would step into a larger role. They've now secured his services for five more seasons and signed their entire starting five to long-term contracts.

With their championship window open, the Thunder will move forward with Shai Gilgeous-Alexander, Jalen Williams, Chet Holmgren, Isaiah Hartenstein and now Wallace, signed through at least the 2028-29 season.